The stock of iShares DEX Universe Bond Index Fund (TSE:XBB) gapped down by $0.13 today and has $29.31 target or 6.00% below today’s $31.18 share price. The 8 months technical chart setup indicates high risk for the $2.16 billion company. The gap down was reported on Dec, 1 by Barchart.com. If the $29.31 price target is reached, the company will be worth $129.60 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 100,302 shares traded hands or 40.69% up from the average. iShares DEX Universe Bond Index Fund (TSE:XBB) has declined 1.07% since April 27, 2016 and is downtrending. It has underperformed by 7.00% the S&P500.
Another recent and important iShares DEX Universe Bond Index Fund (TSE:XBB) news was published by Theglobeandmail.com which published an article titled: “Beware the risk in bond funds” on July 10, 2013.
iShares DEX Universe Bond Index Fund seeks to provide income by replicating, to the extent possible, the performance of the DEX Universe Bond Index, net of expenses. The company has a market cap of $2.16 billion. The DEX Bond Index consists of a diversified selection of investment-grade Government of Canada, provincial, corporate and municipal bonds issued domestically in Canada and denominated in Canadian dollars. It currently has negative earnings. There are four credit or borrower categories: bonds issued bt Government of Canada , Provincial Bonds (including provincially guaranteed securities), Municipal Bonds, and Corporate Bonds.
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